Hi everyone. I’m Stephanie LI.
大家好，我是主持人李莹亮。
Coming up on today’s program.
重点提要
Chinese Premier urged six economic powerhouses to consolidate recovery after minor fluctuations in July;
China issues measures to set up birth and childcare support policy system.
Here’s what you need to know about China in the past 24 hours
中国经济要闻
Chinese Premier Li Keqiang on Tuesday called on six provincial level economic powerhouses to take the lead to stabilise the economy, as a greater sense of urgency is needed to strengthen the foundations for recovery, after China's July economic data showed continued recovery but with minor fluctuations.
Premier Li made the remarks at a symposium with top provincial officials of Guangdong province in Shenzhen. He also spoke with the governors of Jiangsu, Zhejiang, Shandong, Henan and Sichuan provinces via video link during the meeting.
The six provinces, which account for more than 40 percent of the country's GDP, number of market entities and employment, should take the lead and tap their own potential to stabilize the economy and the employment of local and migrant workers.
Li's remarks came as Monday’s data suggested that the country's recovery in consumer and factory activity has slowed due to factors including a recent surge in COVID-19 cases and a real estate downturn. Growth in fixed-asset investment also slowed to 5.7 percent in the January-July period, dragged by a 6.4 percent decline in real estate development investment, official data showed.
He called for steps to effectively coordinate epidemic containment and socioeconomic development, reiterating the importance of bringing COVID-19 under control, stabilizing economic growth and ensuring the security of development.
It is important to ensure the unimpeded operations of major logistics corridors and stabilise industry and supply chains, he said, adding that the four coastal provinces among the six, which contributed over 60 percent of the nation's fiscal revenue, should ensure that they can make their due share of contributions to central finances.
Li urged the six provinces to shoulder their responsibilities and play a key role in stabilising growth, as to offer more aid packages to businesses and help them create jobs.
He noted that sluggish demand is a prominent problem now facing the economy, and called for the provinces to step up efforts to boost consumer spending and support homebuyers who are eager to improve their housing conditions.
8月16日，中共中央政治局常委、国务院总理李克强在深圳主持召开经济大省政府主要负责人座谈会，分析经济形势，对做好下一步经济工作提出要求。
会上，中共中央政治局委员、广东省委书记李希和广东省长王伟中发了言，江苏省长许昆林、浙江省长王浩、山东省长周乃翔、河南省长王凯、四川省长黄强通过视频发言。
李克强说，6个经济大省经济总量占全国的45%，是国家经济发展的“顶梁柱”。经济大省要勇挑大梁，发挥稳经济关键支撑作用。落实好稳经济一揽子政策，挖掘自身政策潜力，保市场主体激发活力，保障物流主干道、微循环畅通，稳定产业链供应链。稳经济也是稳财源。
李克强说，6月份扭转了前两个月主要经济指标负增长的局面，经济运行企稳回升。7月份经济延续恢复发展态势，但仍有小幅波动。势要起而不可落。当前正处于经济回稳最吃劲的节点，必须以时不我待的紧迫感，巩固经济恢复发展基础。要深入实施稳经济一揽子政策，针对新情况合理加大宏观政策力度，推进改革开放，着力稳就业稳物价，保持经济运行在合理区间，扎实保障基本民生。
6省里4个沿海省在地方对中央财政净上缴中贡献超过6成，要完成财政上缴任务。中央财政对地方转移支付已基本下达，各省要坚持政府过紧日子，盘活财政存量资金，保持财政收支平衡，加大财力下沉，保障基层“三保”尤其是保基本民生支出、保基层工资发放。
李克强说，市场主体稳，经济和就业才能稳。6省市场主体数量占全国4成以上，贡献了40%以上的就业。要结合实际加大助企纾困力度，帮助他们恢复活力，在吸纳就业上继续当好“主角”，努力稳定本地和外来务工人员就业。
需求不振是经济运行的突出矛盾。经济大省人口多，要多想办法促消费，扩大汽车等大宗消费，支持住房刚性和改善性需求。当前地方专项债余额尚未达到债务限额，要依法盘活债务限额空间，并用好已发行的地方专项债和政策性开发性金融工具，符合条件项目越多的地方得到的资金要越多。各地要加快成熟项目建设，在三季度形成更多实物工作量，带动有效投资和相应消费。
China has issued a set of measures to speed up the establishment of a policy system to support the birth of babies that would ultimately spur the birth rate and promote the long-term balanced increase of the population.
The supporting measures include better maternal care services, such as incorporate appropriate labor analgesia and assisted reproductive technology programs into local health insurance funds and public-benefit childcare services, improved maternity and parental leave policies, and the fostering of fertility-friendly workplaces like flexible working hours, according to a guideline released by 17 departments including the National Health Commission and the NDRC.
Parents should also be able to apply for special personal income tax deductions for bearing the cost of infants and children under the age of three. Families with multiple children purchasing their first home in certain cities may obtain higher personal housing accumulation fund loans.
17部门发文完善生育支持措施：8月16日，国家卫健委等17部门发布关于进一步完善和落实积极生育支持措施的指导意见，其中提出，完善生育保险等相关社会保险制度。国家统一规范并制定完善生育保险生育津贴支付政策，强化生育保险对参保女职工生育医疗费用、生育津贴待遇等保障作用，保障生育保险基金安全。指导地方综合考虑医保（含生育保险）基金可承受能力、相关技术规范性等因素，逐步将适宜的分娩镇痛和辅助生殖技术项目按程序纳入基金支付范围。住房政策向多子女家庭倾斜，在缴存城市无自有住房且租赁住房的多子女家庭，可按照实际房租支出提取住房公积金；对购买首套自住住房的多子女家庭，有条件的城市可给予适当提高住房公积金贷款额度等相关支持政策。
China will support and facilitate the entry of more high-quality and distinctive African agricultural and food products into the Chinese market, bringing more tangible benefits to the Chinese and African people, Foreign Ministry spokesperson Wang Wenbin told a regular press briefing on Tuesday. China is the second largest destination for African farm exports. In 2021, African agricultural exports to China grew by 18.23 percent year-on-year as more products were allowed to enter the huge Chinese market, Wang said.
积极推进自非洲进口农产品：外交部发言人汪文斌16日表示，中国政府重视加强中非农业合作，积极推进自非洲进口农产品。2018年中非合作论坛北京峰会以来，肯尼亚、南非、贝宁、埃及等14个非洲国家的25种农食产品已完成输华准入。中国是非洲农产品出口第二大目的地国，近年来非洲对华农产品出口年平均增速达11.4%。2021年，非洲对华农产品出口额同比增长18.2%。汪文斌表示，在去年11月举行的中非合作论坛第八届部长级会议上，中方宣布为非洲农产品输华建立“绿色通道”。中国海关总署积极落实，制定了切实可行的准入便利举措。
Moving on to regional highlights
区域观察
Huzhou in Zhejiang Province on Monday said it would encourage state-owned enterprises to purchase apartments from struggling real estate developers to use as indemnification and resettled housing, according to a notice released by the local Bureau of Housing and Urban-Rural Development.
湖州鼓励国企收购滞销房：浙江省湖州市住房和城乡建设局15日发布《关于持续促进我市房地产平稳健康发展的通知》提到，对困难房地产企业的滞销房，鼓励国有企业收购，作为保障安置用房等。
Air Macau, the flag carrier of the Macao SAR, said Tuesday it plans to gradually resume more flights between Macao and the Chinese mainland based on market conditions. Starting Aug 13, Air Macau started round-trip flights once a week between Macao and Shanghai as well as Nanning. And the airline expects to resume flights between the SAR and Chengdu staring Thursday.
澳门航空与内地多地复航：媒体16日报道，澳门航空表示8月15日起成都-澳门恢复往返免隔离，并将于8月18日起陆续恢复成都-澳门往返航班。此前，沪澳往返航线于8月13日重启，目前该航班由澳门航空公司执飞。7月29日澳门疫情已全面清零，恢复全域低风险。
Next on industry and company news
产业及公司新闻
China's top economic planner said on Tuesday that it approved eight fixed-asset investment projects in July. The projects, with a combined investment value of 236.8 billion yuan, mainly cover areas including water conservancy and energy, the NDRC said. From January to July, the commission approved 65 projects, with a combined investment value of over 1 trillion yuan.
发改委7月审批8项固资投资：8月16日，据国家发改委新闻发布会介绍，1—7月，国家发展改革委共审批核准固定资产投资项目65个，总投资10028亿元。7月份，发改委共审批核准固定资产投资项目8个，总投资2368亿元，主要集中在水利、能源等行业。
The State Administration for Market Regulation said Wednesday the total number of market entities hit 161 million as of June, which increased 4.4 percent compared with the end of last year, witnessing a V-shape rebound in the first half of this year.
6月底我国市场主体达1.61亿户：17日国家市场监督管理总局发布数据，截至6月底，我国登记在册市场主体1.61亿户，较2021年底增长4.4%。其中企业5038.9万户，增长4.1%，个体工商户10794.1万户，增长4.6%。
Chinese internet giant Tencent Holdings is withdrawing from the non-fungible token scene as its digital collectible platform Huanhe will stop adding new products on its shelves to reduce regulatory risks. Huanhe's users can still keep their NFTs or apply for full refunds, the platform said in a statement Tuesday.
腾讯幻核停售数字藏品：8月16日，国内数字藏品头部平台腾讯幻核宣布，自当日起将停止数字藏品发行。所有通过其平台购买过数字藏品的用户，可自行选择继续持有或发起退款申请。
BYD will become the third Chinese power battery maker to build a production base at a cost of 28.5 billion yuan in Yichun in Jiangxi province, after CATL and Gotion High-Tech. The plant will have the capacity to produce 30 gigawatt-hours and 100,000 tons of battery-grade lithium carbonate and ceramic clay a year, the Yichun government said Monday.
比亚迪拟投建电池厂：8月15日，宜春市政府、宜春经开区、宜丰县政府、宜春市矿业公司与比亚迪在南昌市正式签订战略合作框架协议，比亚迪拟在宜春市投资285亿元，建设年产30GWh动力电池和年产10万吨电池级碳酸锂及陶瓷土(含锂)矿采选综合开发利用生产基地项目。
Earnings reports express
财报速递
China Telecom reported its interim net profit expanding 3.1 percent to stand at 18.3 billion yuan on Tuesday, while operating revenue soared 10.4 percent to 240 billion yuan. Mobile customers increased by 3 percent to 384 million, an increase of 11.7 million, which helped drive the revenue from mobile communications services to 99 billion yuan - up 6 percent year on year.
中国电信上半年营收2402亿元：8月16日，中国电信对外公布其2022年上半年的业绩显示，2022年上半年，中国电信营业收入为人民币2402亿元，同比增长10.4%，其中服务收入为人民币2214亿元，同比增长8.8%。归属于上市公司股东的净利润为人民币183亿元，同比增长3.1%。上半年中国电信主营业务，移动通信服务收入达人民币990亿元，同比增长6.0%。移动用户达到3.84亿户，净增1179万户。
Tencent Music Entertainment, which operates China’s biggest music streaming platforms, ended the second quarter of 2022 with 25 percent more paying music users. Revenues from TME’s online music services decreased by 2.4 percent to 2.88 billion yuan, but it added 2.5 million paying subscribers in the second quarter, bringing the total to 82.7 million. Music subscription revenue grew 17.6 percent to 2.11 billion yuan. Overall revenue at TME – across music and “social entertainment” combined – in Q2 shrank 13.8 percent from last year to 6.91 billion yuan, while net profit in the April-June period narrowed 8.3 percent to 1.07 billion yuan.
腾讯音乐二季度业绩企稳： 腾讯音乐（TME）16日凌晨发布财报，报告显示，第二季度，腾讯音乐总营收69.1亿元，同比下降13.8%，环比上涨3.9%；非国际财务报告准则下的净利润10.7亿元，同比下降8.3%，环比上涨13.4%。从业务上来看，来自社交娱乐服务及其他的营收为40.3亿元，在线音乐服务的营收为28.8亿元。其中，在线音乐营收包括来自音乐订阅营收的21.1亿元，同比增长17.6%。此外，二季度腾讯音乐在线音乐付费用户数达到8270万，同比增长24.9%；社交娱乐每付费用户月度收益(ARPPU)为169.9元，同比增长10.8%。
Hong Kong Exchanges & Clearing Ltd. on Wednesday posted HK$4.84 billion in net profit for the first six month, down 27 percent year on year. The exchange operator’s total revenue slid 18 percent to HK$8.94 billion, dragged by lower trading and clearing fees.
港交所中期利润减少27%：17日，香港交易所发布中期业绩，股东应占溢利同比减少27%。 公告显示，截至2022年6月30日止六个月中期业绩，香港交易所收入及其他收益89.37亿港元，同比减少18%。
Switching gears to financial news
金融市场消息
Property shares rallied on a second day after Chinese regulators have reportedly instructed state-owned China Bond Insurance to provide guarantees for onshore bond issuance by a few developers including Longfor, Country Garden and CIFI. Policymakers had drawn up a list of half a dozen developers that have been regarded as financially sound, whose bond issues would receive guarantees. Sources said Longfor plans to sell 1.5 billion yuan worth of medium-term notes with a guarantee from China Bond Insurance.
多家房企再获流动性支持：8月16日，市场消息称监管机构近期计划通过指定国有企业担保和承销示范性房企的人民币债券新发，为这些房企提供流动性支持；此外，监管部门同时指示中债信用增进投资公司对这些房企发行的中期票据开展“全额无条件不可撤销连带责任担保”。据了解，龙湖近期拟将发行15亿元左右的中期票据，担保情况为中债信用增进公司提供全额无条件不可撤销连带责任担保。名单中的房企包括碧桂园、龙湖和旭辉等。包括碧桂园、龙湖和旭辉在内的多家房企及知情人士均对21世纪经济报道记者回应表示，监管计划给予积极支持，目前正在沟通中，具体信息以公司公告为准。
Wrapping up with a quick look at the stock market
股市收盘情况
Chinese stocks climbed on Wednesday, led by gains in developers and the new energy sector. By the close, the benchmark Shanghai Composite went up 0.45 percent and the Shenzhen Component rose 1.01 percent. The Hang Seng Index edged up 0.46 percent and the TECH Index gained 0.42 percent.
周三A股三大指数集体走强。截至今日收盘，沪指涨0.45%，深成指涨1.01%，创业板指涨幅1.70%。板块方面，光伏股再度出现涨停潮，金融股集体上涨，地产股受利好消息刺激多数上涨。港股恒生指数涨0.46%，恒生科技指数涨0.42%。
Biz Word of the Day
财经词汇划重点
A medium-term note (MTN) usually refers to a note payable that comes with a maturity date that is within five to ten years.
中期债券是期限在1年以上，5年、7年或10年以下的债券。中期债券分记名式和非记名式两类。
Executive Editor: Sonia YU
Editor: LI Yanxia, HE Jia
Host: Stephanie LI
Writer: Stephanie LI, ZENG Libin,
Sound Editor: HUANG Ziqing
Graphic Designer: ZHENG Wenjing, LIAO Yuanni
Produced by 21st Century Business Herald Dept. of Overseas News.
Presented by SFC
编委: 于晓娜
策划、编辑：李艳霞、和佳
播音：李莹亮
撰稿：李莹亮、曾丽镔
音频制作：黄梓晴
设计：郑文静、廖苑妮
21世纪经济报道海外部 制作
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